SAO PAULO, July 5 (Reuters) - Embraer SA expects to improve its cash position by $1 billion once Boeing Co acquires most of its commercial jet unit, according to a note seen by Reuters from Embraer Chief Executive Paulo Cesar Silva to employees.

On a call with analysts, Embraer executives had said they expected about a fifth of Boeing’s $3.8 billion payment for a new commercial jet venture would go to taxes and the rest could be split between share buybacks, deleveraging, special dividends and investment in future defense and business jet projects. (Reporting by Brad Haynes; Editing by Christian Plumb)